Louisiana State Employees Retirement System Makes New $1.94 Million Investment in Glaukos Co. (NYSE:GKOS)

Louisiana State Employees Retirement System purchased a new stake in shares of Glaukos Co. (NYSE:GKOS) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 24,400 shares of the medical instruments supplier’s stock, valued at approximately $1,940,000.

Several other institutional investors and hedge funds have also recently modified their holdings of GKOS. PNC Financial Services Group Inc. lifted its position in Glaukos by 4.8% in the second quarter. PNC Financial Services Group Inc. now owns 4,353 shares of the medical instruments supplier’s stock valued at $310,000 after buying an additional 200 shares during the last quarter. American Century Companies Inc. increased its stake in Glaukos by 3.1% during the first quarter. American Century Companies Inc. now owns 6,878 shares of the medical instruments supplier’s stock worth $339,000 after purchasing an additional 207 shares during the period. Captrust Financial Advisors increased its stake in Glaukos by 17.1% during the second quarter. Captrust Financial Advisors now owns 1,738 shares of the medical instruments supplier’s stock worth $79,000 after purchasing an additional 254 shares during the period. Arizona State Retirement System increased its stake in Glaukos by 2.1% during the third quarter. Arizona State Retirement System now owns 13,040 shares of the medical instruments supplier’s stock worth $981,000 after purchasing an additional 264 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Glaukos by 17.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,827 shares of the medical instruments supplier’s stock worth $137,000 after purchasing an additional 270 shares during the period. Institutional investors and hedge funds own 99.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Truist Financial restated a “buy” rating and set a $110.00 target price on shares of Glaukos in a research note on Monday, April 8th. Wells Fargo & Company upped their target price on shares of Glaukos from $83.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. JPMorgan Chase & Co. upgraded shares of Glaukos from a “neutral” rating to an “overweight” rating and increased their price target for the company from $66.00 to $91.00 in a research note on Thursday, December 21st. StockNews.com lowered shares of Glaukos from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Finally, Needham & Company LLC increased their price target on shares of Glaukos from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $99.80.

Glaukos Price Performance

GKOS stock opened at $95.15 on Friday. The company has a market capitalization of $4.71 billion, a P/E ratio of -34.23 and a beta of 1.08. Glaukos Co. has a twelve month low of $45.38 and a twelve month high of $102.33. The business has a 50 day simple moving average of $91.88 and a 200-day simple moving average of $80.55. The company has a current ratio of 5.34, a quick ratio of 4.78 and a debt-to-equity ratio of 0.77.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Wednesday, February 21st. The medical instruments supplier reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.07). The firm had revenue of $82.40 million during the quarter, compared to analyst estimates of $81.00 million. Glaukos had a negative net margin of 42.79% and a negative return on equity of 22.67%. Glaukos’s revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.53) earnings per share. As a group, equities analysts anticipate that Glaukos Co. will post -2.18 EPS for the current year.

Insider Buying and Selling

In related news, CFO Alex R. Thurman sold 474 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $90.37, for a total transaction of $42,835.38. Following the completion of the sale, the chief financial officer now directly owns 54,916 shares of the company’s stock, valued at $4,962,758.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Alex R. Thurman sold 474 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $90.37, for a total transaction of $42,835.38. Following the completion of the sale, the chief financial officer now directly owns 54,916 shares of the company’s stock, valued at $4,962,758.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Alex R. Thurman sold 434 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $95.33, for a total value of $41,373.22. Following the sale, the chief financial officer now directly owns 54,166 shares of the company’s stock, valued at $5,163,644.78. The disclosure for this sale can be found here. Insiders sold a total of 242,881 shares of company stock valued at $22,906,633 over the last three months. 7.80% of the stock is currently owned by company insiders.

About Glaukos

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent and iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.